Latest Stocks: US Bancorp DE Boosts Position in First Republic Bank (FRC)

Latest Stocks: US Bancorp DE Boosts Position in First Republic Bank (FRC)

US Bancorp DE raised its stake in shares of First Republic Bank (NYSE:FRC) by 32.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 26,567 shares of the bank’s stock after buying an additional 6,434 shares during the period. US Bancorp DE’s holdings in First Republic Bank were worth $2,492,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the stock. Capital World Investors raised its position in First Republic Bank by 20.1% in the third quarter. Capital World Investors now owns 7,797,025 shares of the bank’s stock valued at $601,229,000 after buying an additional 1,305,000 shares in the last quarter. Norges Bank acquired a new position in First Republic Bank during the fourth quarter valued at approximately $108,694,000. FMR LLC raised its position in First Republic Bank by 24.4% in the fourth quarter. FMR LLC now owns 4,739,266 shares of the bank’s stock valued at $436,676,000 after buying an additional 929,909 shares in the last quarter. State Street Corp raised its position in First Republic Bank by 14.8% in the fourth quarter. State Street Corp now owns 5,046,316 shares of the bank’s stock valued at $464,961,000 after buying an additional 651,265 shares in the last quarter. Finally, The Manufacturers Life Insurance Company acquired a new position in First Republic Bank during the third quarter valued at approximately $40,131,000. 97.08% of the stock is currently owned by institutional investors.

Shares of First Republic Bank (NYSE FRC) opened at 94.97 on Tuesday. The stock has a market capitalization of $14.93 billion, a PE ratio of 23.69 and a beta of 1.03. First Republic Bank has a 52-week low of $63.97 and a 52-week high of $97.43. The stock has a 50 day moving average of $92.35 and a 200 day moving average of $92.04.

First Republic Bank (NYSE:FRC) last released its earnings results on Thursday, April 13th. The bank reported $1.01 earnings per share for the quarter, meeting the consensus estimate of $1.01. The company had revenue of $601.14 million during the quarter, compared to the consensus estimate of $626.14 million. First Republic Bank had a return on equity of 12.38% and a net margin of 27.98%. During the same period in the previous year, the company posted $0.88 EPS. Analysts forecast that First Republic Bank will post $4.50 earnings per share for the current year. The company also recently announced a quarterly dividend, which was paid on Thursday, May 11th. Shareholders of record on Thursday, April 27th were given a $0.17 dividend. This is an increase from First Republic Bank’s previous quarterly dividend of $0.16. This represents a $0.68 annualized dividend and a yield of 0.72%. The ex-dividend date was Tuesday, April 25th. First Republic Bank’s payout ratio is currently 16.49%.

Several equities analysts recently commented on FRC shares. Piper Jaffray Companies reduced their target price on shares of First Republic Bank from $97.00 to $92.00 and set a “neutral” rating on the stock in a report on Monday, April 17th. Deutsche Bank AG increased their target price on shares of First Republic Bank from $98.00 to $101.00 and gave the company a “hold” rating in a report on Tuesday, April 18th. Barclays PLC increased their target price on shares of First Republic Bank from $100.00 to $101.00 and gave the company an “overweight” rating in a report on Wednesday, April 19th. Royal Bank of Canada reissued a “sector perform” rating and set a $98.00 price target (up previously from $95.00) on shares of First Republic Bank in a research report on Friday, March 10th. Finally, BMO Capital Markets reissued a “hold” rating and set a $98.00 price target on shares of First Republic Bank in a research report on Wednesday, March 22nd. Seven equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company’s stock. The company presently has an average rating of “Buy” and an average price target of $98.62. About First Republic Bank

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